The Town of Mountain Village, Colorado, home of the Telluride 360° Adventure Festival, and GaleForce Sports Marketing joined together in 2002 to expand the 360° Festival and UCI Mountain Bike World Cup. Both organizations worked diligently during the past nine months to secure the needed sponsorship for the 2003 event. Many companies showed sincere interest, but when the final funding decisions were made, all potential title sponsors cited the uncertainty in the world and the lethargic economy as reasons for not supporting the event.

"I am heartbroken that we cannot find a solution for this," said GaleForce President Rick Sutton. "GaleForce has a history of finishing what it starts, and this will be the first time in 13 years that we have needed to cancel an event. Unfortunately, the Town of Mountain Village and GaleForce are not prepared to absorb the financial liability of these events. Without the significant funding represented by title sponsorship, the hole is simply too deep for both Mountain Village and GaleForce."

The 2002 Telluride 360° Adventure Festival and UCI Mountain Bike World Cup brought more than 2,000 athletes and 7,000 spectators into Mountain Village. It was by far the largest summer sports event ever held in the Telluride area. World Cup mountain biking, amateur mountain biking, trail running, adventure racing, fly-fishing, and bouldering were co-mingled in this one-of-a-kind sports festival.

"We are truly sorry that we will not be hosting the 360° Adventure Festival in July," said Kathy Mahoney, Mountain Village Town Manager. "Without a sponsor, it is not possible for us to produce a festival on par with last years event. We will continue to improve our outdoor amenities this summer, including our biking and hiking trails, and we look forward to future opportunities to welcome outdoor sports enthusiasts to Mountain Village."